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| Nasdaq falls 1 percent; market extends selloff Wednesday, Jun 12, 2013 12:18 PM PDT  NEW YORK (Reuters) - U.S. stocks fell on Wednesday, with the Nasdaq falling 1 percent, in another day of wild swings as traders extended a selloff driven by concern over the winding down of central bank policies that have given support to equities and other assets. The Dow Jones industrial average was down 115.12 points, or 0.76 percent, at 15,006.90. The Standard & Poor's 500 Index was down 12.13 points, or 0.75 percent, at 1,614.00. The Nasdaq Composite Index was down 32.69 points, or 0.95 percent, at 3,404.26. (Reporting by Caroline Valetkevitch; Editing by Nick Zieminski) Full Story | Top |
| NSA chief says U.S. infrastructure highly vulnerable to cyber attack Wednesday, Jun 12, 2013 11:11 AM PDT  WASHINGTON (Reuters) - U.S. critical infrastructure - which ranges from telecommunications to water to energy supplies - is not well prepared to handle a destructive cyber attack, the top U.S. general in charge of cybersecurity said on Wednesday. National Security Agency chief General Keith Alexander, making his first public appearance since revelations surfaced last week about U.S. telephone and internet surveillance efforts, made the comments in a statement prepared for testimony before Congress. ... Full Story | Top |
| AIDS drugs halve HIV risk for intravenous drug users in study Wednesday, Jun 12, 2013 10:27 AM PDT  By Julie Steenhuysen CHICAGO (Reuters) - A daily dose of powerful anti-HIV medicine helped cut the risk of infection with the AIDS virus by 49 percent in intravenous drug users in a Bangkok study that showed for the first time such a preventive step can work in this high-risk population. "This is a significant step forward for HIV prevention," said Dr. Jonathan Mermin, director of the U.S. Centers for Disease Control and Prevention, which helped conduct the clinical trial along with the Thailand Ministry of Health. ... Full Story | Top |
| Australian woman attempts record swim from Cuba to U.S. Wednesday, Jun 12, 2013 10:18 AM PDT  By Jeff Franks HAVANA (Reuters) - Under a bright, tropical sun, Australian Chloe McCardel jumped into a calm, crystal-clear sea on Wednesday and began her quest to become the first person to make the 103 mile swim from Cuba to the United States without a shark cage. If all goes well, she hopes to swim through the Straits of Florida in about 60 hours and reach Key West on Friday night. McCardel will use a team of scientists in the United States to help guide her through the Gulf Stream, the powerful and unpredictable current that has stymied many previous attempts. ... Full Story | Top |
| Royalty wants appeal over Elan bid heard next week Wednesday, Jun 12, 2013 10:05 AM PDT DUBLIN (Reuters) - U.S.-based Royalty Pharma sought to have an appeal heard next week over conditions attached to its hostile bid for Irish drug firm Elan that threaten to scupper the $8 billion deal. Royalty received a blow in its battle to take over Elan last week when Ireland's Takeover Panel ruled that the investment firm could not revise the terms of its offer, meaning it could become null and void at an Elan shareholder meeting on Monday. ... Full Story | Top |
| Amgen says drug slowed ovarian cancer in trial Wednesday, Jun 12, 2013 09:26 AM PDT (Reuters) - Amgen Inc's trebananib drug for ovarian cancer extended the length of time that patients lived without the disease getting worse by about two months, meeting the main goal of a late-stage clinical trial, the company said on Wednesday. The trial is the first of three pivotal-stage studies of the experimental drug, and analysts said U.S. regulators will likely need to see evidence that trebananib extends overall patient survival before considering the drug for marketing approval. Amgen said median progression free survival (PFS) in the trial was 7. ... Full Story | Top |
| Ethiopia expects Egypt talks over Nile dam, says won't back down Wednesday, Jun 12, 2013 09:20 AM PDT  By Aaron Maasho ADDIS ABABA (Reuters) - Egyptian Foreign Minister Mohamed Kamel Amr is expected to travel to Addis Ababa on Sunday for talks on a giant dam Ethiopia is building on the Nile, as the countries seek a diplomatic solution to an increasingly heated dispute. But Ethiopia's foreign ministry said on Wednesday the country had no intention of suspending construction of what would be the biggest hydro electric plant on the continent, a project Egypt says could cost it vital water supplies. ... Full Story | Top |
| TSX falls to 1-1/2-month low as Dollarama stumbles Wednesday, Jun 12, 2013 08:10 AM PDT  By John Tilak TORONTO (Reuters) - Canada's main stock index dropped to its lowest level in more than six weeks on Wednesday as shares of Dollarama Inc fell sharply after the retailer posted quarterly results that disappointed the market, offsetting gains in gold miners. The dollar store operator gave back 3.8 percent after it reported weaker-than-expected first-quarter earnings, hurt by poor weather and the cost of opening new stores. Wednesday's drop on the resource-heavy Canadian benchmark index extended the steep losses of the previous session as concerns about whether the U.S. ... Full Story | Top |
| Britain to regulate e-cigarettes as medicine from 2016 Wednesday, Jun 12, 2013 07:08 AM PDT By Ben Hirschler LONDON (Reuters) - Britain is to regulate electronic cigarettes as non-prescription medicines from 2016 in an attempt to improve quality, though the country's drugs watchdog said they would still be sold in convenience stores. Healthcare authorities around the world are grappling with how to deal with the battery-driven devices, which allow users to inhale nicotine-laced vapour and are increasingly popular as an apparently less harmful alternative to smoking. ... Full Story | Top |
| Nigerian cook survives two days under sea in shipwreck air bubble Wednesday, Jun 12, 2013 06:41 AM PDT  By Joe Brock WARRI, Nigeria (Reuters) - After two days trapped in freezing cold water and breathing from an air bubble in an upturned tugboat under the ocean, Harrison Okene was sure he was going to die. Then a torch light pierced the darkness. Ship's cook Okene, 29, was on board the Jascon-4 tugboat when it capsized on May 26 due to heavy Atlantic ocean swells around 30 km (20 miles) off the coast of Nigeria, while stabilizing an oil tanker filling up at a Chevron platform. Of the 12 people on board, divers recovered 10 dead bodies while a remaining crew member has not been found. ... Full Story | Top |
| EU says wants WTO ruling versus Chinese steel duties Wednesday, Jun 12, 2013 06:18 AM PDT  PARIS (Reuters) - The European Commission will lodge a complaint with the World Trade Organization against Chinese duties on steel tubes used in power plants, the bloc's industry commissioner Antonio Tajani said on Wednesday. Tajani's comments come after EU sources told Reuters on Tuesday the bloc's executive body would seek to overturn duties on exports to China of seamless stainless steel tubes made by firms such as Spain's Tubacex S.A and Germany's Salzgitter A.G . ... Full Story | Top |
| Rio Tinto invests in French aluminum plant to cut power costs Wednesday, Jun 12, 2013 06:16 AM PDT  By Geert De Clercq DUNKIRK, France (Reuters) - Rio Tinto has invested nearly 80 million euros in its Dunkirk aluminum plant in the past 18 months and plans to invest at least that much again over the next five years on energy saving and efficiency improvements. The largest aluminum plant in the European Union with 2012 production of 286,600 tons, seaside Dunkirk is the biggest single-point user of electricity in France, consuming 485 megawatts per hour, or half the output of one nuclear reactor at the nearby Gravelines site. ... Full Story | Top |
| Rio, Glencore in talks over Australian coal assets: sources Wednesday, Jun 12, 2013 03:42 AM PDT  By Clara Ferreira-Marques LONDON (Reuters) - Miners Rio Tinto and Glencore Xstrata have held early-stage talks to consider a plan that could combine thermal coal assets in Australia as they battle low prices and high costs, two sources familiar with the plan said. Benchmark coal prices touched three-year lows last year and have languished below $100 a metric ton (1.1023 tons) since May 2012, even as labor and other costs soar in Australia. Both Rio and Glencore have large thermal coal mines in the Hunter Valley region of New South Wales. "It makes a lot of sense. ... Full Story | Top |
| UK utilities face having to disclose long-term deals Wednesday, Jun 12, 2013 12:44 AM PDT  LONDON (Reuters) - Britain's largest energy suppliers would be forced to disclose prices at which they trade electricity up to two years ahead under proposals made by the country's energy regulator on Wednesday aimed at loosening the firms' grip on the power market. If the reforms are passed, suppliers will have to reveal prices for long-term contracts on trading platforms which the regulator hopes will give easier market access to smaller energy firms. Britain's 'big six' suppliers are Centrica's British Gas, EDF Energy, E. ... Full Story | Top |
| Glencore boosts board with former Morgan Stanley boss Tuesday, Jun 11, 2013 11:59 PM PDT  LONDON (Reuters) - Glencore Xstrata has appointed former Morgan Stanley boss John Mack as an independent director, bringing in a Wall Street heavyweight as it rebuilds the board of the recently merged company. Less than a month after a shareholder vote ousted all former Xstrata directors, the commodities miner and trader said on Wednesday it had appointed three new directors, including Mack, but also Peter Grauer - another investment banking veteran, now chairman of information provider Bloomberg - and Peter Coates, a veteran of the commodities group. ... Full Story | Top |
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